Tuesday, 8 July 2014

This year’s trend of below average demand and a strong supply picture continued to dampen prices in June, as contracts surpassed last month’s four-year lows.Supplies were aided by maintenance to the UK- Belgian interconnector, which kept gas in the UK. As a result storage levels reached 88% by the end of the month. These exceptionally high levels for June put pressure on prices along the curve, with winter 14 gas falling to a record low of 58.0p/th.